Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
Bonds at original issue discount. Tax. Is it true that I
bonds at original issue discount. This is US Federal Tax. Is it true that I have to recognize interest income (and therefore, report income in my taxes) the year that they accrue, even though I am act… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
I have reported interest from Everbank annually on single currency
I have reported interest from Everbank annually on single currency World currency CDs for various foreign currencies. The matured CDs were called "Rollover principal and interest". They were 3 and 6 m… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
Need help understanding if I need to report OID on a tax
Need help understanding if I need to report OID on a tax return - No 1099 OID was received.… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,934 satisfied customers
Lev, I invested in foreign currency CD in everbank in June 2013 and completed it in Dec
Hi Lev, I invested in foreign currency CD in everbank in June 2013 and completed it in December 2014. I invested let us say $500 for simplicity here. In 2013, the foreign interest earned was $13 and a… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
My tax bracket is 15%. If I buy brokerage CD in secondary market
My tax bracket is 15%. If I buy brokerage CD in secondary market for $800 and it has zero coupon payment, Will gain be considered capital gain and taxed at 0% or Will it be considered income and taxed… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,934 satisfied customers
For a collateralized mortgage bond purchased at a large discount
For a collateralized mortgage bond purchased at a large discount to par (eg. 60), how should principal payments be treated given that I don't expect to receive par? Are they a return of principal inst… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
OVER A 4- YR.PERIOD I HAD A MARKET RATE C.D., WORKING FOR ME.
OVER A 4- YR.PERIOD I HAD A MARKET RATE C.D., WORKING FOR ME. I ALREADY SOLD IN THE 1-ST. QUARTER OF YR. 2011.. I HAD PROFIT GAIN'S OF $8,101.55 CENT, THAT "I HAD PAID TAXES ON", TO THE I.R.S., ALREAD… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,636 satisfied customers
Hi, I purchased an Everbank Marketsafe Gold 5 yr CD that matured
Hi, I purchased an Everbank Marketsafe Gold 5 yr CD that matured in 2011. Original purchase price was $5000, maturity value was $7760. My question is, for the first 4yrs I have received 1099-OID state… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
Im invested in a large number of inexpensive discount securities
I'm invested in a large number of inexpensive discount securities (LendingClub "notes") which cost $25 each, and pay out interest and principal over the course of 0 to 5 years. As these are discount s… read more
Bill
Bill
Master's Degree
3,132 satisfied customers
I invested 100k in an Everbank Japanese REIT Marketsafe CD
I invested 100k in an Everbank Japanese REIT Marketsafe CD for 3.5 years. Basic idea was the principal was guaranteed, the return was based on the change in the Topix Reit index at expiration. If it w… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
i made what i consider a capital gain (over and above the interest
i made what i consider a capital gain (over and above the interest it paid) on a ford motor bond that matured last year. It was NOT a market discount bond! I bought it at less than par (from an indivi… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
I paid tax on $60107.95 of OID interest over 4 years. The
I paid tax on $60107.95 of OID interest over 4 years. The investment matured at it's face value (what I oriiginaly invested). How do I recoup the tax I paid on the interest… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
I have a foreign currency CD at Everbank and my year end statement
I have a foreign currency CD at Everbank and my year end statement shows interest gained and dates. But I lost a lot of money when the exchange rate changed and the US dollar moved higher. how do I ac… read more
Bill
Bill
Master's Degree
3,132 satisfied customers
I am using TurboTax to prepare my tax returns this year. My
I am using TurboTax to prepare my tax returns this year. My question involves the sale of a bond. In 2008 a bond I owned matured. I received a 1099-B showing gross proceeds of $6,000, the bond's matur… read more
Wayne Brasch
Wayne Brasch
Accountant and Business Consultant
Master Degree
718 satisfied customers
I had a foreign currency CD (Islandic crona) in 2008 with Ever
I had a foreign currency CD (Islandic crona) in 2008 with Ever Bank. After the drastic fall of the Islandic crona and my CD maturity, I closed the CD and transfered the remaining amount to a simple ($… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,278 satisfied customers
I have been buying 3 month FDIC insured foreign currency ...
I have been buying 3 month FDIC insured foreign currency certificates of deposit. At first, when the CDs matured, I had the interest payments converted to US Doallars and transferred to a US Dollar ba… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
I have a foreign currency CD with Everbank. The CD matures ...
I have a foreign currency CD with Everbank. The CD matures every 3 months at which time I roll over the principal and get a check for the interest. Since the CD is foreign currency based it's value ri… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
How do I figure the taxable gain on foreign currency CDs
I have been rolling over 3 month Foreign currency CD's for almost 2 years. I sold part of my position last year and had a capital gain. How do I figure the gain? Does the gain on interest add to my ba… read more
Barbara Lamar
Barbara Lamar
Attorney, CPA
Doctoral Degree
108 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

18,934 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x